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Tag Archives: Debt
Men’s Wearhouse Corporation Files for Bankruptcy
Tailored Brands Inc., the owner of Men’s Wearhouse and Jos. A. Bank, filed for bankruptcy in the US Bankruptcy Court in Houston. These unfortunate and unforeseen circumstances caused by the pandemic, are making it truly difficult to stay afloat in … Continue reading
Briggs and Stratton File for Bankruptcy
Recently, Briggs and Stratton Corporation, a small engine manufacturer, has filed for bankruptcy in the US Bankruptcy Court for the Eastern District of Missouri. The manufacturer has plans to sell its assets for $550 million to KPS Capital Partners LP, … Continue reading
Eviction Moratorium To End This Week
The Federal Eviction Moratorium that was put in place for tenants in late March, has come to an end. With moratorium expiring, landlords are given the greenlight to proceed with action for their delinquent tenants. This means, the property-owners are … Continue reading
American Airlines Furlough 25,000 Employees
With some states experiencing another rapid increase in COVID-19 cases, American Airlines notify their frontline workers of possible layoffs. According to The Worker Adjusting and Notification Act, the employers are required to notify employees of possible lay offs at least … Continue reading
Lucky Brand Dungarees LLC slides into the Bankruptcy Wave
Lucky Brand Dungarees LLC prepares themselves to file for bankruptcy due to the unpredicted circumstances caused by the pandemic, yet again. They plan to close to at least 13 stores, and but sell their investment business to the director of … Continue reading
Mexico’s Second Largest Airline Files for Bankruptcy
Mexico’s second largest airline, Grupo Aeromexico SAB, has filed for bankruptcy. While there has been a sharp decrease in travel, the company is using this time to refinance. The impact has been so significant that the airline was forced to … Continue reading
Old Time Pottery Files for Bankruptcy
In order to reform their finances, Old Time Pottery has decided to file for bankruptcy this week due to impact of Covid-19. Prior to the pandemic, the company experienced a sudden decline in sales that went on as long as … Continue reading
Francesca’s Warns Bankruptcy Filing
Francesca’s, the even now-struggling merchant, says that the coronavirus prompted a shut down of more than 700 of the company’s boutiques from the end of March through the end of April. This led to a significant decline in its equivalent … Continue reading
New York City Pondering Furlough Due to Financial Shortage
Mayor Bill de Blasio of New York City states the city could face potential furloughing of around 22,000 employees due to the $9 billion dollar budget loss stemming from the coronavirus. Considering cutting back $1 billion from the budget, the … Continue reading
Chuck E. Cheese Corporation Files for Bankruptcy
Corporation CEC Entertainment recently filed for bankruptcy. The corporation says this is the most difficult time in its history, but it intends to establish a restructuring plan. The company has liabilities and assets ranging from $1 billion to $10 billion … Continue reading